What Am I Missing When We Hear - Nobody Knows How Or WhereThe Money Went......

[global1]

This has been said about the first $350 billion of the bailout funds. I just can't accept that. Don't these companies have tons of accountants working for them? Don't they keep track of this money to the last red cent? Seems unbelievable to me that they don't know where the money went.

Think of this on simple terms and relate it to your own finances. You have a bank account. You know what the balance is in your account. The bank knows. The bank keeps strict track of this because they have to calculate the interest gained on your account. They have to deduct the checks you've written against your balance. They send you or provide you with monthly statements. Heaven forbid that they overpay you or make a mistake on your account that's to your advantage. They find it and they let you know - don't they. They have to provide the government for tax purposes the interest you've made over the year. All this is tracked.

I can't believe that on one side they follow the money down to the last red cent - but they don't know where this bailout money went or how it was spent. That's just total and utter BS.

I got to believe that their accountants know exactly where every penny went - I just don't think they want to tell us.

How stupid do they think we are that we'd believe them that they don't know where the money went.

Where have I heard this before? Oh - I know - all that money that was shipped on pallets to Iraq.

And as long as I'm in this rant. What about the $18 Billion used for bonuses? I don't mind bonuses for people that do a good job - but these people failed us. I would bet that these same people that pocketed these wopping bonuses stiff a waiter or waitress when they don't get good service when they eat at their fancy restaurants. How many times have you heard that restaurant owners don't pay their wait staff a good wage - and that the wait staff makes it up in tips.

Same analogy here. Good service by a waiter/waitress - big tip. Poor or bad service - small or no tip.

I'm willing to bet that if we talked to waiters/waitresses that work in restaurants in NYC near Wall Street - they would have countless stories of how these high paid Wall St/Banker types have stiffed them.

I'll stop now. Thanks for listening.

[tbyg52]

1. That's my question -

and I don't think they should get another penny until they account for every penny of the first $350B, and post it on the web.